hugo slade yin myat thwe theint theint th win...serviced apartments are renting for approx. $800 per...
TRANSCRIPT
YA N G O NS E R V I C E D A P A R T M E N T
M A R K E T S N A P S H O T FEBRUARY 2020
SUPPLY
As of February 2020, there was a total ofover 2176 rooms in Yangon’s existingserviced apartment stock.
In 2021-2023, approximately 1580 roomsof serviced apartment stock are due tocome online. However, delays will likely seesome of this forecasted stock pushed to2024.
Most notably at the Yoma Central, YComplex and Inno City will bring more than900 units onto the market.
It is likely that rents will decrease as supplyincreases.
2013 2015 2017 2019
Year
0
1,000
2,000
3,000
No
. Un
its
avai
lab
le
Existing Stock
New Stock
DEMAND
Occupancy has decreased as new supply
has been built.
This occupancy level is likely to decrease
further over the coming months as new
supply comes to the market.
Condominiums offering full facilities are
now more available on the market at
affordable rents putting pressure on
service apartment occupancy and rental
rates.
76%
Avg Total Building OccupancyRate
RENT
For now, rents in serviced apartments
remain high. Small, one-bedroom
apartments, in the new middle range
serviced apartments are renting for
approx. $800 per month, and luxury
serviced apartments continue to charge
approx.$3500 plus per month.
Avg Rent Per Month
$3492 $1962$4571 $3436$5806 $4526
$8917 $7066
2014 2020Studio1 Bed
3 Bed4 Bed/
Penthouse
2 Bed$7086 $5844
Hugo SladeManaging Director
+ 95 (0) 942 1058 866
CONTACT US
Theint Theint ThwinValuation&Research Manager
+95 (0) 95 026 722
Yin Myat ThweSenior Leasing Manager
+95 (0) 997 1095 777
Sales & Leasing I Valuation & Advisory I Market Research I Development Consultancy
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